Business simulations can provide companies with a training situation which can prepare their employees and managers for situations in the safety of a controlled environment.
When timely and accurate, business simulation training can provide a company with a competitive advantage that allows them to anticipate their employee’s performance, identify any areas of concern or pitfalls and allows management to communicate strategic initiative effectively.
In order for a company to successfully perform, they need to be able to effectively predict the skills that their leaders and workforce will require in the near future. Business simulations allow for business to create bespoke courses which can prepare their workforce to face the challenges of tomorrow and undertake training to grow their skills to cater to this.
Through evaluating and upgrading the current processes of working within a business, leaders can ensure that they are at a competitive advantage. From implementing new technology to streamline processes to utilising analytics and methodologies to build simulations that will allow them to trust and grow their decision-making skills, business simulations can create an overall better-prepared workforce.
More than forecasting
Business simulations are far more than ‘forecasting’, which focuses more on looking at projecting next years figures based on historical data, instead, it looks to move away from linearity and rooted metrics to adopt more of a ‘butterfly effect’ approach. Through this companies can build the workforce’s understanding of how one small change, disruption, shortages or a decision can have monumental effects on the company performance.
Simulations are now considered a critical element to successful internal training. The capability to monitor performance allows a company to determine how successful their learning strategy has been. By providing systematic and structured learning experiences, performance measurement is more easily achieved and learners typically are able to more easily remember and put into practice the skills obtained, when compared to traditional or classroom approaches to training.
One of the core reasons that business simulations are becoming increasingly popular is the capability to customise the activity to your business model. By moving away from generic products, which can only take your employees so far in their learning, a bespoke business simulation can create scenarios based on previous events which have resulted in challenging situations.
Business simulations can tackle a range of skills and can be suited for everyone, from juniors all the way up to board members. The blend of physical tasks with technology can support in making a real impact on your learning experience and can provide a competitive challenge which pushes employees further. The use of multimedia supports in ingraining the information into the learners head more effectively than book learning and classroom lessons whilst adding a competitive element that challenges individuals to push themselves further.